INTERNET MILLIONAIRES MAKING MONEY ONLINE
Internet millionaires making money online * how the internet works * how to start an internet business * millionaires secrets to making money online by successful entrepreneurs
Everybody starts out with an internet business in the hope or belief that they are going to become millionaires. Nothing wrong with that; no one should go into business without these kind of aspirations. Theoretically, you could become a millionaire selling shoelaces if you buy them at the cheapest price, sell them at the highest price, keep you overheads low and sell enough of them. This is what is known as watching your bottom line and making a profit.
INTERNET MILLIONAIRES
The
accumulation of wealth
works in exactly the same way and this is how internet millionaires are created. If you can keep and maintain your overheads low whilst continuing to increase your income, you will build up your capital and make your money work for you. This means you either reinvest it back into your business, invest it in other money-making projects, or put it into high interest bank accounts or stock and shares. When you have capital, business opportunities arise where you are able to make business decisions based on the potential and not on your financial ability to take advantage at the time.
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MAKING MONEY ONLINE
Whilst it is important to keep your overheads low, it is also important not to cut corners when trying to make money online or your income generation potential could drop. For example: if you are a retailer, a high street position, which will obviously cost you more than a back street shop, is likely to generate higher sales. On the other hand, if you are a specialist retailer with a niche market, passing trade might not be so readily available in high numbers and curtail your chance of greater sales; and potential clients may well be prepared to travel and seek you out up a back street.
HOW THE INTERNET WORKS
The internet works
in exactly the same way. If you are providing a unique service or product or at least don't have masses of competition, you could possibly get away with a backstreet approach to your internet marketing and advertising. On the other hand, if you are operating in a highly competitive market place, you have to have deep pockets to generate high levels of traffic.
Build web pages here and drive traffic to your website
Advertise on this search engine and get more visitors to your website
We bang this home throughout The Golden Web: the internet doesn't just open your business up to a world wide audience, it exposes you to global competition and, in most instances, this will be tens or hundreds of millions of competitors.
The idea of this chapter is to give you an overview of:
- How to make money online
- Ways to make money online
- How to keep your overheads down
- When you should be investing in the best systems and not cutting corners
Everything mentioned in this chapter is covered in detail in specific chapters on each subject.
HOW TO MAKE MONEY ONLINE
The most obvious thing to ensure is you don't throw money at projects or internet strategies that are not going to prove profitable. By the time you have finished reading the Golden Web you should have a far better understanding of how the internet works and how to make the best decisions.
The thing is, we can provide you will all the advice about making money online but this won't necessarily make you a business person. It is one thing to provide you with the facts and quite another to give you the business acumen or business sense to help you think in the right way and make sensible business decisions. Knowledge, wisdom and commonsense are three very different things.
Knowledge is knowing that a tomato is a fruit; wisdom is knowing not to include tomatoes in a fruit cocktail, and commonsense is making the decision to at least try it so as not to offend your idiot host who has served tomatoes in a fruit cocktail at a dinner party.
HOW TO START AN INTERNET BUSINESS
Business is like that: you may have the knowledge tucked away at the back of your brain but having the wisdom and commonsense (business sense) to use that knowledge correctly and at the right time is not something we or anyone else can teach you. Having a business idea is not the same as having the thought processes to turn that idea into a successful internet business.
The most stupid man Paul ever employed was a university lecturer. He was intelligent to the point of being brilliant, could talk on virtually any subject under the sun, but when it came to applying his knowledge, he was profoundly lacking in commonsense.
MILLIONAIRES' SECRETS
We can tell you the secrets to becoming a millionaire but we cannot teach business sense or commonsense; you can only teach information and once you start to
apply your knowledge to any internet business idea, unless you have
business partners who understand the search engines,
and unless you have surrounded yourself with people who have the necessary business skills and acumen you lack, you will be on your own and prone to making expensive mistakes.
SUCCESSFUL ENTREPRENEURS
Successful entrepreneurs are born and not made. People don't suddenly change their personality and go from being someone who never took a risk to becoming a business gambler. The bankruptcy courts are full of people who went into business with little idea of how a business actually works. Houses are being repossessed all the time because people borrowed money based on what they considered to be a great business idea that failed. People (even experienced business people) are throwing money at internet business projects all the time that are doomed to failure because they are moving into a medium they have little knowledge of or experience in.
MAKING MONEY ONLINE
Internet millionaires make money online because they understand the internet and have the resources to implement successful marketing strategies....
You are reading an extract from
The Golden Web - The Internet Entrepreneur's Definitive Guide to Making Money Online
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Internet millionaires making money online * how the internet works * how to start an internet business * millionaires secrets to making money online by successful entrepreneurs